By Wendy Van Sickle
Columbus, Ohio, May 1 – Citigroup Global Markets Holdings Inc. priced $2.04 million of 0% autocallable securities due May 1, 2025 linked to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par plus an annualized redemption premium of 9.5% if each underlying index closes at or above its call level, on any quarterly review date after one year. The call level is 100% of initial level.
If the notes are not called, the payout at maturity will be par plus the contingent return of 47.5% if each index finishes above its initial level.
If any index finishes below its initial level but each index finishes at or above its 60% knock-in level, the payout will be par. If any index finishes below its knock-in level, investors will lose 1% for each 1% decline of the least-performing index.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | S&P 500, Dow Jones industrial average
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| Amount: | $2,043,000
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| Maturity: | May 1, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 47.5% if each index finishes above its initial level; if either index falls by up to 30%, par; otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level
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| Call: | Automatically at par plus annualized redemption premium of 9.5% if each underlying closes at or above call level on any quarterly review date after one year; call level is 100% of initial level
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| Initial levels: | 2,878.48 for S&P, 24,133.78 for Dow
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| Knock-in levels: | 1,727.088 for S&P, 14,480.268 for Dow; 60% of initial levels
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17328VJS0
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